📡 Markets end the week with volatility driven more by policy signals than hard data.

🥇 Gold remains elevated near record highs as softer U.S. inflation reinforces 2026 Fed cut expectations, even while a firmer dollar caps upside and physical demand weakens in India and China.

💴 The yen continues to underperform despite the BoJ’s rate hike, fueling sharp moves across JPY crosses and lifting the dollar index toward a one-week high.

🛢 Oil finds short-term support from geopolitical risks around Venezuela and Russia, but upside remains constrained by looming global oversupply concerns.

💵💶 In FX, USD strength persists against high-beta currencies, while the euro and sterling struggle to extend gains amid cautious ECB and BoE signals.

💵💴 USD/JPY: 157.70 — Rises 1.45% as dollar strength and yen weakness persist, with the BoJ’s 0.75% hike failing to support JPY and price breaking above 156.80 resistance.

💶💵 EUR/USD: 1.1707 — Falls 0.12% for a fourth consecutive session after the ECB held rates at 2.00% with no forward guidance, leaving 1.1685 as key support.

🥇 XAU/USD: 4,338 — Consolidates near record highs as Fed cut expectations offset a firmer USD, with price eyeing 4,355 resistance.

🛢 USOIL: 56.53 — Gains 1.15% on geopolitical risks and energy demand optimism, with 56.90 acting as the next major resistance.

🇬🇧1️⃣0️⃣0️⃣ UK100: 9,897 — Extends gains for a third session and posts a 2.57% weekly rise, trading just below the 9,900 psychological level.

🇺🇸1️⃣0️⃣0️⃣ NAS100: 25,354 — Advances 1.51% for a second session as the tech rally continues, with Micron-led strength pushing price toward 25,810 resistance.

𝐙🔐 ZEC/USD: 447.86 — Surges 15.50% for a second session on capital rotation into privacy coins and ETF optimism, targeting 455.90 resistance.

🟡🐕 DOGE/USD: 0.13264000 — Rebounds 8.52% after a two-day drop, though muted whale activity keeps upside capped near 0.13162 resistance.

👟✔️ NKE: 58.71 — Slides 10.54% for a fourth straight session as China weakness and margin pressure dominate, breaking below 59.50 support.

🅾️ ORCL: 191.97 — Rallies 6.63% for a second session on TikTok U.S. joint venture headlines, breaking above 186.50 resistance.

Inflation trends in Hong Kong influence expectations around monetary conditions under the HKD peg. Softer inflation reinforces stable-to-loose conditions, while upside surprises could revive concerns around imported inflation pressures.

Canada’s PPI provides an early signal of pipeline inflation pressures. Cooling producer prices would support expectations of easing inflation trends, potentially weighing on CAD, while a hotter print could delay dovish Bank of Canada expectations.

The RBA meeting minutes will be scrutinised for signals on inflation persistence, labour market tightness, and the Board’s comfort with maintaining restrictive policy. Any resistance to near-term easing could support AUD, while a cautious or growth-focused tone may keep pressure on the currency.

Monthly GDP is a key gauge of economic momentum and a direct input into Bank of Canada policy expectations. A contraction would reinforce slowdown concerns and weigh on CAD, while a surprise expansion could provide short-term support.

This heavy US data cluster will give markets a broad read on growth momentum, manufacturing activity, and consumer sentiment heading into year-end. Weakness across durable goods, industrial output, and confidence would reinforce expectations for Fed rate cuts in 2026, pressuring the USD. Conversely, upside surprises—especially in GDP revisions or consumer confidence—could help stabilise the dollar after recent softness.

🇳🇿🇺🇸 NZD/USD: Rebounded toward ~0.5790 from the 0.5735 low, though momentum remains fragile.

🇬🇧🇳🇿 GBP/NZD: Drifted lower toward ~2.3190 on relative NZD stabilization.

🇳🇿🇯🇵 NZD/JPY: Advanced toward ~91.00, supported by continued JPY weakness.

🇦🇺🇳🇿 AUD/NZD: Stayed heavy near ~1.1470 ahead of RBA minutes.

🇳🇿🇨🇦 NZD/CAD: Held around ~0.7965–0.7970 as NZD resilience offset cautious CAD sentiment.

🛠💵🥇 Markets opened the week with a clear risk-adjustment theme as the U.S. dollar slid toward multi-year lows on entrenched expectations of Federal Reserve easing into 2026, while gold surged into price discovery above $4,400 on a powerful mix of Fed cut bets and escalating geopolitical risks.

🇪🇺🇳🇿 EUR/USD and NZD/USD remain technically constructive but are compressing below key resistance zones, signalling that directional breakouts may be imminent as volatility tightens.

🛢 In commodities, crude oil is being pulled in two directions—supported by geopolitical supply risks linked to Venezuela and Russia-Ukraine, yet capped by lingering oversupply concerns into Q1.

🔜 The macro backdrop now shifts firmly toward a data-heavy U.S. session, where GDP revisions, durable goods, industrial production, and consumer confidence will test whether recent USD weakness deepens or stabilises.

🇳🇿🇺🇸 NZD/USD: 0.5793 — The Kiwi rebounds from a two-week low, but the recovery is stalling just below 0.5815 resistance as momentum cools.

💶💵 EUR/USD: 1.1758 — Bulls remain in control, but price is still capped under the 1.1870 resistance zone as the USD stays pressured.

🥇 XAU/USD: 4,443 — Gold prints fresh record highs after clearing the 4,400 psychological level, with safe-haven demand and rate-cut bets driving upside.

🛢 USOIL: 57.94 — Crude extends a second-session climb, but price is still battling to break cleanly above the 58.00 resistance area.

🇺🇸1️⃣0️⃣0️⃣ NAS100: 25,475 — Risk appetite firms as AI-led tech strength drives a holiday-week rebound, with 25,815 the next key resistance.

🇭🇰5️⃣0️⃣ HK50: 25,847 — The Hang Seng pushes higher on improving sentiment and liquidity support, keeping 26,230 as the next upside checkpoint.

🟣⬡ LINK/USD: 12.5750 — LINK consolidates after a breakout attempt, with accumulation chatter supporting a push toward 14.5270 resistance.

🔵∴ ADA/USD: 0.370660 — ADA steadies after a brief pullback, while 0.3860 remains the key level bulls need to reclaim.

🅾️ ORCL: 198.38 — Oracle extends gains for a third consecutive session as TikTok U.S. joint venture headlines lift the stock, with 197.00 now the level to hold for continuation.

📱 NFLX: 93.23 — Netflix dips despite deal momentum, with price leaning on 92.71 as the next support that can’t break.

🇪🇺🇺🇸 EUR/USD: Held firm near ~1.1765, staying above 1.1750 on ECB stability and softer USD.

🇪🇺🇨🇦 EUR/CAD: Hovered around ~1.6170 as oil-supported CAD capped upside.

🇪🇺🇨🇭 EUR/CHF: Edged higher toward ~0.9315, showing mild EUR resilience despite CHF risk sensitivity.

🇪🇺🇬🇧 EUR/GBP: Dipped toward ~0.8726 before rebounding to ~0.8735 in choppy trade.

🇪🇺🇯🇵 EUR/JPY: Traded flat near ~184.59 as ECB support offset JPY safe-haven dynamics.

💵 USDX: Extended losses toward 98.20–98.30, confirming broad-based USD weakness.

🇬🇧🇺🇸 GBP/USD: Held firm near 1.3460, tracking dollar softness as yield spreads stabilized.

🇺🇸🇨🇭 USD/CHF: Slid below 0.7920 on defensive CHF inflows and falling U.S. real yields.

🇺🇸🇨🇦 USD/CAD: Drifted lower toward 1.3750 as firmer oil prices supported CAD.

🇺🇸🇯🇵 USD/JPY: Dropped toward 156.90 on yen strength following BoJ tightening signals and renewed intervention rhetoric.